Rosemont Terrace Apartments 6 8 12-14 Rosemont Terrace and 50-68 Woonasquatuck 68 Unit Apartment Building $18,665,728 CAD ($274,496 CAD/Unit) 5% Cap Rate Providence, RI 02911

OWNER FINANCING AVAILABLE. The owner will finance the first mortgage at 5% interest-only for two years with a $4,000,000 down payment.
Property Description
Rosemont Terrace is a multifamily portfolio in Providence, RI, comprised of 67 residential units across six 2.5-story brick garden-style buildings and an additional single-family home, located at 50, 64, 68, and 70 Woonasquatucket Avenue, and 6 & 8 Rosemont Terrace. The unit mix includes 25 two-bedroom units and 42 one-bedroom units, providing a range of housing options within a cohesive neighborhood setting.
The portfolio has a total gross living area of 56,826 SF and sits on a 111,505 SF lot. The property is located in an established Providence neighborhood with access to local amenities, public transportation, and major roadways. Coin-operated laundry in each building adds convenience for tenants and supplemental income, supporting consistent rental demand in the area.
Location Description
Providence, RI, offers a premier urban investment opportunity supported by a diverse economy, renowned educational institutions, and ongoing downtown revitalization, positioning the city as one of New England’s most dynamic multifamily and mixed-use markets. As Rhode Island’s capital and largest city, Providence continues to attract residents, businesses, and investors seeking strong long-term growth within a highly connected metropolitan area.
Located approximately 50 miles south of Boston and 180 miles northeast of New York City, Providence combines historic architecture with a rapidly evolving urban landscape. The city is home to nationally recognized institutions including Brown University and Rhode Island School of Design, along with a growing healthcare, technology, and professional services sector that supports consistent residential demand. Its vibrant downtown, waterfront redevelopment, arts scene, and extensive transportation network continue to attract students, young professionals, and workforce residents alike.
For investors, Providence represents a compelling opportunity driven by strong rental demand, continued redevelopment activity, and relative affordability compared to larger Northeast gateway cities. Ongoing infrastructure improvements, expanding mixed-use developments, and a strong local identity position Providence for sustained economic growth and long-term capital appreciation across residential and commercial asset classes.